Deep-pocketed investors have adopted a bearish approach towards Qualcomm QCOM, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in QCOM usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 29 extraordinary options activities for Qualcomm. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 48% leaning bullish and 51% bearish. Among these notable options, 12 are puts, totaling $1,981,411, and 17 are calls, amounting to $2,375,349.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $185.0 for Qualcomm over the recent three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Qualcomm's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Qualcomm's significant trades, within a strike price range of $100.0 to $185.0, over the past month.
Qualcomm 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| QCOM | CALL | TRADE | BEARISH | 05/17/24 | $185.00 | $660.0K | 2.9K | 0 |
| QCOM | CALL | SWEEP | BULLISH | 09/20/24 | $185.00 | $572.5K | 1.5K | 525 |
| QCOM | CALL | SWEEP | BULLISH | 09/20/24 | $185.00 | $563.9K | 1.5K | 26 |
| QCOM | PUT | SWEEP | BEARISH | 07/19/24 | $180.00 | $385.1K | 445 | 243 |
| QCOM | PUT | TRADE | BULLISH | 04/26/24 | $185.00 | $385.0K | 1.0K | 250 |
About Qualcomm
Qualcomm develops and licenses wireless technology and designs chips for smartphones. The company's key patents revolve around CDMA and OFDMA technologies, which are standards in wireless communications that are the backbone of all 3G, 4G, and 5G networks. Qualcomm's IP is licensed by virtually all wireless device makers. The firm is also the world's largest wireless chip vendor, supplying nearly every premier handset maker with leading-edge processors. Qualcomm also sells RF-front end modules into smartphones, as well as chips into automotive and Internet of Things markets.
After a thorough review of the options trading surrounding Qualcomm, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Qualcomm
- With a trading volume of 1,451,532, the price of QCOM is down by -0.76%, reaching $169.55.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 40 days from now.
Expert Opinions on Qualcomm
2 market experts have recently issued ratings for this stock, with a consensus target price of $150.0.
- An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $150.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $150.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Qualcomm options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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